I only make a little over $17,000 a year and I was a full-time student last year. When I put in my student loan information and my tuition expenses, I am no longer getting a small refund, now I owe over $500... why?
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Does your 1098-T form has an amount in box 5 for scholarships/grants?
The amount in box 5 that exceeds the amount of qualifying educational expenses becomes taxable income.
HannahEsmith97,
You've got a puzzler there but there are some possibilities:
In order to further assist, I would need some details as we volunteers in this forum cannot and should never see your personal tax return. These details include:
Hopefully, this will be enough to figure things out for you.
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